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Difference between Sold Subject to Contract and Under Offer

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Comments

  • mangled
    mangled Posts: 27 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Well I have had information today that exchange of contracts on the house happens this Friday.

    So clearly the change to SSTC from Under Offer - did mean something with this particular estate agent




  • L21P
    L21P Posts: 18 Forumite
    10 Posts First Anniversary
    The house we bought was under offer within an hour of our offer being accepted and was changed to STC once the EA had some details from us a few days later - like evidence of deposit and a AIP that cover the rest. However some local EA only ever used STC so don't read too much into it. 
  • seven-day-weekend
    seven-day-weekend Posts: 36,755 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 11 January 2022 at 12:28PM
    eddddy said:

    'Sale Agreed', 'Under Offer' and 'Sold Subject to Contract' generally all mean the same thing. It's up to the EA to choose whichever they like best.

    The Property Ombudsman says:

    “In my view, ‘Sale Agreed’, ‘Under Offer’ and ‘Sold Subject to Contract’ all propose the same, that the seller has accepted an offer on the property, that is, a sale has been agreed, but contracts are not yet exchanged.

    “‘Sold’ should only be used once contracts have been exchanged.”

    Link: https://propertyindustryeye.com/sale-agreed-under-offer-and-sold-subject-to-contract-theres-no-difference-says-the-ombudsman/


    Ours had 'Reserved'  all the time it was it was SSTC until completion :).  So that's another way of saying the same thing.
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
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